Group Including Buyout Firm TSG in Advanced Talks to Buy Pabst Brewing

Gillian Tan and Dana Mattioli broke the news that the owner of Pabst Brewing Co. was in advanced talks with a group of companies including private-equity firm TSG Consumer Partners LLC to sell the beer company. A deal is not yet imminent but if finalized could value the owner of Pabst Blue Ribbon and other beers at a little less than $1 billion, according to sources.

The story as it appeared by Dow Jones:
Sept. 11, 2014, 2:57 PM EDT: Group Including Buyout Firm TSG In Advanced Talks To Buy Pabst Brewing — Sources

2:57 PM EDT: Pabst Brewing Could Still Be Recapitalized Instead Of Sold — Source

The owner of Pabst Brewing Co. is in advanced talks to sell the beer company to a group including private-equity firm TSG Consumer Partners LLC, according to people familiar with the matter.

The deal being discussed could value the owner of Pabst Blue Ribbon and other beers at somewhat less than $1 billion, one of the people said. The timing of any agreement between the parties is unclear and the talks could still fall apart.

In addition to its namesake lager, Pabst Brewing, which traces its roots to 1844, owns a host of well-known American beer brands including Schlitz, Colt 45 and Old Milwaukee. Consumer-products investor C. Dean Metropoulos & Co., its current owner, bought the company in 2010 from a charitable foundation for about $250 million.

Write to Gillian Tan at gillian.tan@wsj.com and Dana Mattioli at dana.mattioli@wsj.com

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